January 26 (SeeNews) - Diversified group African Industries has acquired the Netherlands-registered Thames Farming Enterprises (TFE) which operates three farms in southern Romania, deal consultant Raiffeisen Bank Romania said on Wednesday.
African Industries acquired approximately 14,000 hectares of land with an estimated production capacity of over 50,000 tonnes of cereals per year, Raiffeisen Bank Romania, which advised transaction intermediary Insight Investment, said in a press release.
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The transaction involved three farms in Calarasi county - Agricom Borcea, Tudor 92, Concordia Agro as well as management company Alisa Farm Management.
The value of the deal was not disclosed.
"This transaction represents an important step in our commitment to continue investing in Romania. We are constantly concerned with improving and modernizing our sustainable farming practices, focusing on irrigation and soil conservation," African Industries Group president Raj Gupta said.
African Industries Group is a global diversified holding company wholly owned by Raj and Alok Gupta brothers, with investments in Europe, the Middle East and West Africa. In Romania, the company operates in agribusiness, distribution of agricultural equipment and machinery, development and real estate investments.